The reduction in the share of value-added in sectors such as textiles and footwear is due to increased reliance on import of raw materials, writes Aishwarya Sanas.
Search Results: apparel exports (1174)
The Indian home textile market is still at up-and-coming stage. The unorganised sector is dominating the market; there are vast opportunities for organised players for growth and development.
The sector has been under immense financial stress as operations have been curtailed due to the lockdown but overhead cost still remains to be borne by the companies.
With India losing its competitive edge in global textile and apparel sector, the government has decided to engage a consultant to improve the county’s performance.
Indian apparel businesses could face up to 40 per cent loss of revenue and many smaller players are contemplating closure.
A survey conducted by International Textile Manufacturers Federation (ITMF) among global textile companies revealed that on average orders are down by 32 per cent and the turnover for 2020 is expected to drop by 29 per cent compared to 2019 due to Covid 19 pandemic.
JM Balaji, Head – Marketing, Lakshmi Ring Travellers (Coimbatore) Limited, speaks on the demand for ring travellers and emerging trends in the industry.